Posted To: MBS Commentary
Mixed Performance Amid Light Liquidity and Fed Comments The bond market shifted into a predictable gear for the Friday of the last full trading week of the year (next Friday closes early for Christmas). That is to say it was fairly uneventful, MBS underperformed vs the 10yr in the afternoon, and market movers punched above their weight. The most notable example followed comments from the Fed's Waller which laid bare the committee's rationale for accelerating the taper this week. This managed to surprise the front end of the yield curve to a small extent which only added to MBS underperformance vs longer-term yields. Econ Data / Events Fed MBS Buying 10am, 11:30am, 1pm Market Movement Recap 08:49 AM Bonds flat at first, then rallying fairly sharply into the domestic session. Omicron…(read more)
Source: Mortgage News Daily
